Tokyo, Mar 18 (AP/UNB) — Shares rose in Asia on Monday as investors awaited signs the U.S. and China could be making progress in negotiations on resolving the trade war between the two biggest economies.
Japan's benchmark Nikkei 225 added 0.7 percent in morning trading to 21,591.90. Australia's S&P/ASX 200 rose 0.1 percent to 6,181.20. South Korea's Kospi was flat at 2,174.61. Hong Kong's Hang Seng gained nearly 0.4 percent to 29,119.08, while the Shanghai Composite rose 0.6 percent to 3,038.93.
China's congress on Friday endorsed an investment law that aims to address complaints, particularly from the U.S., that China's system is rigged against foreign companies. The U.S. claims China forces companies to share technology in order to do business in the country.
"U.S.-China trade war concerns were a major factor of a global growth downgrade," said Alfonso Esparza, an analyst with Oanda. "While comments from both sides have been positive, there have been few details on where negotiations stand. The delay could once again spark anxiety in the market."
Wall Street ended last week on an upbeat note, with the S&P 500 gaining 0.5 percent Friday to 2,822.48, a new high for the year. The Dow Jones Industrial Average advanced 0.5 percent to 25,848.87. The Nasdaq composite climbed 0.8 percent, to 7,688.53. The S&P 500's gain was 0.5 percent. The Russell 2000 index of smaller companies picked up 3.90 points, or 0.3 percent, to 1,553.54.
U.S. stocks have had a strong showing this year, with all the major indexes gaining at least 10 percent.
Traders are also confident that the Federal Reserve will hold off on any action that could jeopardize economic growth. The central bank, which signaled in January that it was hitting pause on its rate hikes amid a slowdown in global growth and weak inflation, is holding a meeting of policymakers this week.
CURRENCIES: The dollar rose to 111.56 Japanese yen from 111.48 yen on Friday. The euro strengthened to $1.1335 from $1.1326.
ENERGY: The price of U.S. crude oil slipped 21 cents to $58. 31 a barrel. It slipped 0.2 percent to settle last week at $58.52 a barrel. Brent crude dropped 16 cents to $67.00 a barrel.
Dhaka, Mar 17 (UNB)- The local electronics appliances manufacturer ‘Marcel’ has recently unveiled its new brand logo at the company headquarter in Chandra of Gazipur.
Marcel Directors SM Nurul Alam Rezvi, SM Shamsul Alam and SM Ashraful Alam unveiled the new brand logo before more than one thousands businessmen by cutting cake just after inaugurating a day-long ‘Marcel Distributors Conference 2019’.
The event was also attended by company’s director SM Rezaul Alam, Executive Directors Eva Rezwana, Marcel head of sales Dr Md Shakhawat Hossen, Brand Ambassador Amin Khan and other high officials of the company.
With the slogan of ‘Lets Achieve the Goal Together,’ the day-long conference was commenced on Thursday morning. More than one thousand distributors of the local company from all over the country attended the conference.
Speaking at the event, SM Ashraful Alam said, Marcel is achieving tremendous success in the local electronics market and the market share is going up very rapidly.
Marcel authorities said, Marcel registered about 40 percent growth in its business in 2018 as against of 2017.
This year they set a target of achieving 80 percent growths. They have already witnessed 20 percent growth in the first two months of the current year compared to the corresponding period of the previous year.
By upholding the present pace of business growth, Marcel would be the country’s top brand within 2021.
The company’s Executive Director Uday Hakim said that a new road map has been prepared for turning Marcel into the country’s leading electronics brand.
Thus, they are conducting their business activities with aspirations, hopes and new working plans of which unveiling new brand logo is the first one.
The participants of the conference visited the production units of different sorts of electronics, electrical, home, ICT and Industrial Solutions. They were amazed to see the production process of Marcel fridge, television, air conditioner, laptop, computer, mobile phone, elevator, compressor, washing machine, oven etc. at the gigantic manufacturing plant equipped with world’s latest technology and machineries.
Dhaka, Mar 16 (UNB) - Walton is manufacturing world-class appliances in Bangladesh and has created huge employment opportunities, said National Board of Revenue Chairman Mosharraf Hossain Bhuiyan on Saturday.
“It would be a great source of the government’s revenue,” said the chairman while expressing his reaction before the media after visiting Walton Hi-Tech Industries Limited at Chandra in Gazipur.
The NBR chief said, “I am proud of Walton. I saw much better than I heard about them. They are manufacturing raw materials and finished goods, specially the major parts of fridges and air conditioners, at their own factory.”
Mosharraf also said that Walton has become a giant industrial sector now. “They turned into the country’s leading electronics brand. Now, the time has come to lead the global electronics market. To this extent, they will get all sorts of assistance from the NBR.”
He assured that the incentives, which are given to the export-oriented readymade garments, would be provided to the local exporters of electronics appliances.
Along with the NBR chairman, his spouse Mahfuja Begum, NBR Members Md Rezaul Hasan (VAT), Md Firoz Shah Alam (Duties and ICT), Kanon Kumar Roy (Tax), Customs Commissioner of Dhaka North Zakia Sultana and Income Tax Commisser of Gazipur Md Ali Ajgar also visited the Walton factory.
They were welcomed with a bouquet by Walton Hi-Tech Industries Limited Vice-Chairman SM Shamsul Alam, Managing Director SM Ashraful Alam and Director SM Rezaul Alam.
Among others, Walton Group’s Directors SM Monjurul Alam, Tahmina Afrose Tanna and Raisa Sigma, Executive Directors Abul Bashar Howlader, SM Zahid Hasan, Col (Retd.) Sahadat Alam, Shoyeb Hossain Nobel, Uday Hakim, Golam Murshed, Deputy Executive Director Md Firoj Alam were also present.
SM Shamsul Alam said the country needs more employment and industrialisation. With the direction of the NBR chairman, we will go ahead to this extent.
The NBR chairman, along with his team, enjoyed a corporate document on Walton and then visited the product display center and the production units of refrigerators, compressors, air conditioners, LED televisions, computers, laptops, mobile phones and other home, kitchen and electrical appliances.
Dhaka, Mar 16 (UNB)- PRAN, a food processor of the country, recently secured export orders worth around$0.5 million at ANUFOOD Fair, one of largest beverage and food fairs in the world
PRAN participated in the three-day fair that took place at Sao Paulo in Brazil, began on March 12.
Md Mizanur Rahman, Chief Operating Officer at PRAN Export Limited said “South America is a big market. There is a huge scope to export food items. We have participated in the fair for the first time to utilize the scope.”
The group displayed its products in 10 categories including Juice, beverage, biscuit, bakery and confectionary.
He also said PRAN products are now available in Bolivia, Venezuela, Ecuador and Surinam. Through the fair, scope has been created to export PRAN products in Chili, Peru, Uruguay, Argentina, Brazil and Columbia.
Dhaka, Mar 14 (UNB)-The 26th US Trade Show, 2019 began on Thursday at Pan Pacific Sonargaon Hotel in the capital.
Commerce Minister Tipu Munshi inaugurated the three-day trade show when US Ambassador to Bangladesh Earl R Miller was present.
The American Chamber of Commerce in Bangladesh (AmCham) and the United States Embassy in Dhaka organized the show to promote businesses between the two countries.
AmCham Executive Director Md Shahadat Hossen said a total of 46 exhibitors are taking part in the Trade Show. They are exhibiting their products and services.
“There will be two seminars-‘Education USA’ and ‘Business Visas’ on the second and third day respectively. There is $4.1 billion dollars trade gap between the two countries. The show aims at reducing the trade gap,” he said.
The show will remain open for visitors from 10 am to 8 pm everyday.